Prudential Financial, Inc. (NYSE:PRU) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET

Company Participants

Bob McLaughlin - Vice President, Investor Relations
Charlie Lowrey - Chairman and CEO
Rob Falzon - Vice Chairman
Yanela Frias - Chief Financial Officer
Andy Sullivan - Head, International Businesses and PGIM
Caroline Feeney - Head, U.S. Businesses
Rob Axel - Controller and Principal Accounting Officer

Conference Call Participants

Ryan Krueger - KBW
Suneet Kamath - Jefferies
Tom Gallagher - Evercore ISI
Nick Annitto - Wells Fargo
John Barnidge - Piper Sandler
Wes Carmichael - Autonomous
Wilma Burdis - Raymond James
Alex Scott - Barclays

Operator

Ladies and gentlemen, thank you for standing by, and welcome to Prudential's Quarterly Earnings Conference Call. [Operator Instructions] As a reminder, today's call is being recorded.

I will now turn the call over to Mr. Bob McLaughlin. Please go ahead.

Bob McLaughlin

Good morning, and thank you for joining our call. Representing Prudential on today's call are Charlie Lowrey, Chairman and CEO; Rob Falzon, Vice Chairman; Andy Sullivan, Head of International Businesses and PGIM, our Global Investment Manager; Caroline Feeney, Head of U.S. Businesses; Yanela Frias, Chief Financial Officer; and Rob Axel, Controller and Principal Accounting Officer. We will start with prepared comments by Charlie, Rob, and Yanela, and then we will take your questions.

Today's discussion may include forward-looking statements. It is possible that actual results may differ materially from the predictions we make today. In addition, our presentation includes references to non-GAAP measures.

For a reconciliation of such measures to the comparable GAAP measures and a discussion of factors that could cause actual results to differ materially from those in the forward-looking statements, please see the slides titled Forward-Looking Statements and Non-GAAP Measures in the appendix of today's presentation and the quarterly financial supplement, both of which can be found on our website at investor.prudential.com.

And now, I'll turn it over to Charlie.

Charlie Lowrey

Thank you, Bob, and thanks to all of you for joining us today.

Our third quarter performance reflects continued positive momentum in growing our businesses, increasing capital efficiency, and pivoting our product suite to address the investing, insurance, and retirement needs of our customers and clients around the world.

We reported robust sales across our U.S. and international insurance and retirement businesses as well as strong investment performance and private credit originations in PGIM. We also maintained our disciplined approach to capital deployment, while continuing to invest in our businesses and returning excess capital to shareholders. Our strategic progress and performance are backed by our financial strength.